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8.3.2 <br /> <br />8.3.3 <br /> <br />8.3.4 <br /> <br />8.3.5 <br /> <br />8.3.6 <br /> <br />Any payments due under this provision shall be payable quarterly. The payment shall <br />be made within thirty (30) days of the end of each of Grantee's fiscal quarters together <br />with a report showing the basis for the computation. The City shall have the right to <br />require further supporting information for each franchise fee payment. <br /> <br />All amounts paid shall be subject to audit and recomputation by the City and <br />acceptance of any payment shall not be construed as an accord that the amount paid is <br />in fact the correct amount. The Grantee shall be responsible for providing the City all <br />records necessary to confirm the accurate payment of franchise fees. The Grantee <br />shall maintain such records for five (5) years, unless in the Grantee's ordinary course <br />of business specific records are retained for a shorter period, but in no event less than <br />three (3) years. If an audit discloses an overpayment or underpayment of franchise <br />fees, the City shall notify the Grantee of such overpayment or underpayment. The <br />City's audit expenses shall be borne by the City unless the audit determines that the <br />payment to the City should be increased by more than five percent (5%) in the <br />audited period, in which case the costs of the audit shall be borne by the Grantee as a <br />cost incidental to the enforcement of the Franchise. Any additional amounts due to <br />the City as a result of the audit shall be paid to the City within thirty (30) days <br />following written notice to the Grantee by the City of the underpayment, which notice <br />shall include a copy of the audit report. If the recomputation results in additional <br />revenue to be paid to the City, such amount shall be subject to a ten percent (10%) <br />annual interest charge. If the audit determines that there has been an overpayment by <br />the Grantee, the Grantee may credit any overpayment against its next quarterly <br />payment. <br /> <br />In the event any franchise fee payment or recomputation amount is not made on or <br />before the required date, the Grantee shall pay, during the period such unpaid amount <br />is owed, the additional compensation and interest charges computed from such due <br />date, at an annual rate often percent (10%). <br /> <br />Nothing in this Franchise shall be construed to limit any authority of the City to <br />impose any tax, fee or assessment of general applicability. <br /> <br />The franchise fee payments required by this Franchise shall be in addition to any and <br />all taxes or fees of general applicability. The Grantee shall not have or make any <br />claim for any deduction or other credit of all or any part of the amount of said <br />franchise fee payments from or against any of said taxes or fees of general <br />applicability, except as expressly permitted by law. The Grantee shall not apply nor <br />seek to apply all or any part of the amount of said franchise fee payments as a <br />deduction or other credit from or against any of said taxes or fees of general <br />applicability, except as expressly permitted by law. Nor shall the Grantee apply or <br />seek to apply all or any part of the amount of any of said taxes or fees of general <br />applicability as a deduction or other credit from or against any of its franchise fee <br />obligations, except as expressly permitted by law. <br /> <br />41 <br /> <br /> <br />